WALTHAM, Mass., March 24, 2021 /PRNewswire/ — Salary.com, the compensation management solution providing more of the trusted data and intuitive software organizations need to get pay right, today announced the launch of the CompAnalyst Pay Equity Reporting Toolkit. As companies prioritize identifying potential pay disparities within their organizations, the timely launch of this Toolkit allows for a deeper dive into identifying differences in pay based on gender, race, age, or any basis of comparison that a company finds important. As part of CompAnalyst®’s Reporting and Analytics Module, the Pay Equity Reporting Toolkit provides the tools needed to assess where pay discrepancies exist, giving companies valuable insights into why such gaps exist, and the corrective actions they can take.
The standard reports in the new Pay Equity Reporting Toolkit are analyzed by job, family, level or grade across gender, ethnicity or age, all of which can be customized. Among the types of reports offered are:
- Pay Equity at My Company
- Pay Equity by Ethnicity, Gender or Age
- Equal Pay for Equal Work
- Individual Employee by Job
- Average Pay Spread by Gender
The Pay Equity Reporting Toolkit is best leveraged in tandem with Salary.com’s other tools as part of a workforce planning suite, including:
- JobArchitect™, which streamlines job description management by offering guidelines for jobs with similar duties, responsibilities, and leveling based on matching, which is critical when looking for pay disparities.
- CompAnalyst Market Data, an HR-reported compensation database that ensures that once the content of jobs is defined, HR can understand any pay differences that might exist compared to the market.
“Given that today is Equal Pay Day, it’s particularly meaningful to the Salary.com team to launch this expanded pay equity capability,” said David Cross, senior compensation consultant at Salary.com. “Pay equity legislation and DE&I initiatives have led employers to review their compensation practices on a recurring basis. This renewed focus is proving beneficial to both employers and employees, as paying equitably helps companies acquire and retain the best talent, build employee engagement, increase innovation, and improve business performance. By using our Pay Equity Reporting Toolkit alongside JobArchitect and CompAnalyst Survey Data, organizations have a solid foundation on which they can build a sound workforce plan and get pay right.”
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Salary.com is the leading SaaS provider of compensation market data, software, and analytics, bringing more of the trusted data and intuitive software organizations need to get pay right. The industry’s fastest-growing compensation management company, Salary.com serves over 25,000 survey participant organizations, over 8,000 business-to-business software subscribers, and over 30 million employees globally. For more than 20 years, Salary.com has empowered confident decisions by aligning compensation practices with recruiting, performance, and development initiatives through easy-to-access data and meaningful insights.
The market-leading CompAnalyst® SaaS platform accelerates compensation workflows, delivers real-time data, and powers accurate, equitable, and competitive compensation. Through its Salary Wizard and pioneering website, Salary.com delivers continually updated, reliable market pay data and career content to over 30 million visitors each year. For more information, please visit the company website at www.salary.com.
SOURCE Salary.com, Inc.